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The (Real) Bank of America. That bank, of course, is the United States government—the real bank of America—and it’s unlike any other bank. For starters, its goal is not profit, although it is profitable on paper, and its loans are supposed to help its borrowers rather than its shareholders, better known as taxpayers.Why was Bank of America controversial?
The first National Bank was so controversial because it was seen by many as a centralization of power in the national government. It also took power away from local banks and was seen as an effort to benefit businesses in the north and not agriculture in the south.Is Bank of America the biggest bank in America?
With assets of over $2.5 trillion, JPMorgan Chase is the largest bank in the country. It is also the nation's largest bank by deposits. Bank of America is the second largest financial institution in the United States with $2.28 trillion in assets.